Zaven Yeghiazaryan, Health Care Fraud and Money Laundering, Pennsylvania 2024

Zaven Yeghiazaryan, a 44-year-old business owner from Newtown, Pennsylvania, has pleaded guilty to a 13-count indictment charging him with conspiracy, health care fraud, wire fraud, and money laundering. The charges stem from Yeghiazaryan’s execution of various schemes, targeting government programs, including the Small Business Administration’s Economic Injury Disaster Loan program and the Pandemic Unemployment Assistance Program.

The indictment alleges that Yeghiazaryan used shell companies and false identities to commit the fraud offenses, which were carried out between January 2020 and April 2024. In addition to targeting the Small Business Administration’s Economic Injury Disaster Loan program and the Pandemic Unemployment Assistance Program, the defendant also admitted to participating in a scheme to defraud the Medicaid program.

According to the indictment, the defendant’s crimes resulted in losses of $334,905. Yeghiazaryan faces a maximum possible sentence of 230 years in prison, a three-year period of supervised release, and a $3,250,000 fine. He has also been ordered to pay restitution of $334,905 and forfeit any assets related to the crimes.

The case was investigated by the Social Security Administration – Office of the Inspector General, Internal Revenue Service – Criminal Investigation, the United States Postal Inspection Service, Homeland Security Investigations, the Department of Health and Human Services – Office of Inspector General, the United States Department of Labor – Office of the Inspector General, the United States Department of Transportation – Office of the Inspector General, and the State Department. It is being prosecuted by Assistant United States Attorneys Mary E. Crawley and Special Assistant United States Attorney Megan Curran.

Yeghiazaryan’s guilty pleas to the 13 counts have significant implications for the defendant and the victims of his crimes. The indictment highlights the importance of oversight and accountability in government programs, particularly during times of crisis such as the COVID-19 pandemic.

The case serves as a reminder of the need for vigilance and attention to detail in preventing and detecting fraud. It also underscores the importance of cooperation and coordination between law enforcement agencies in investigating and prosecuting complex crimes.

Sentencing for Yeghiazaryan is scheduled for September 4, 2025.

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